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Spot Pricing in the Cloud Ecosystem: A Comparative Investigation

Li, Zheng LU ; Zhang, He; O'Brien, Liam; Jiang, Shu; Zhou, You; Kihl, Maria LU and Ranjan, Rajiv (2016) In Journal of Systems and Software 114(1). p.1-19
Abstract
Background: Spot pricing is considered as a significant supplement for building a full-fledged market economy for the Cloud ecosystem. However, it seems that both providers and consumers are still hesitating to enter the Cloud spot market. The relevant academic community also has conflicting opinions about Cloud spot pricing in terms of revenue generation.

Aim: This work aims to systematically identify, assess, synthesize and report the published evidence in favor of or against spot-price scheme compared with fixed-price scheme of Cloud computing, so as to help relieve the aforementioned conflict.

Method: We employed the systematic literature review (SLR) method to collect and investigate the empirical studies of Cloud... (More)
Background: Spot pricing is considered as a significant supplement for building a full-fledged market economy for the Cloud ecosystem. However, it seems that both providers and consumers are still hesitating to enter the Cloud spot market. The relevant academic community also has conflicting opinions about Cloud spot pricing in terms of revenue generation.

Aim: This work aims to systematically identify, assess, synthesize and report the published evidence in favor of or against spot-price scheme compared with fixed-price scheme of Cloud computing, so as to help relieve the aforementioned conflict.

Method: We employed the systematic literature review (SLR) method to collect and investigate the empirical studies of Cloud spot pricing indexed by major electronic libraries.

Results: This SLR identified 61 primary studies that either delivered discussions or conducted experiments to perform comparison between spot pricing and fixed pricing in the Cloud domain. The reported benefits and limitations were summarized to facilitate cost-benefit analysis of being a Cloud spot pricing player, while four types of theories were distinguished to help both researchers and practitioners better understand the Cloud spot market.

Conclusions: This SLR shows that the academic community strongly advocates the emerging Cloud spot market. Although there is still a lack of practical and easily deployable market-driven mechanisms, the overall findings of our work indicate that spot pricing plays a promising role in the sustainability of Cloud resource exploitation. (Less)
Please use this url to cite or link to this publication:
author
organization
publishing date
type
Contribution to journal
publication status
published
subject
in
Journal of Systems and Software
volume
114
issue
1
pages
19 pages
publisher
Elsevier
external identifiers
  • wos:000370914300001
  • scopus:84960130505
ISSN
0164-1212
DOI
10.1016/j.jss.2015.10.042
project
LCCC
EIT_VR CLOUD Cloud Control
language
English
LU publication?
yes
id
b39fdcd3-7f2b-4959-a69d-c9d56a2b0aee (old id 8171502)
date added to LUP
2015-11-17 11:27:33
date last changed
2017-11-05 04:11:51
@article{b39fdcd3-7f2b-4959-a69d-c9d56a2b0aee,
  abstract     = {Background: Spot pricing is considered as a significant supplement for building a full-fledged market economy for the Cloud ecosystem. However, it seems that both providers and consumers are still hesitating to enter the Cloud spot market. The relevant academic community also has conflicting opinions about Cloud spot pricing in terms of revenue generation.<br/><br>
Aim: This work aims to systematically identify, assess, synthesize and report the published evidence in favor of or against spot-price scheme compared with fixed-price scheme of Cloud computing, so as to help relieve the aforementioned conflict.<br/><br>
Method: We employed the systematic literature review (SLR) method to collect and investigate the empirical studies of Cloud spot pricing indexed by major electronic libraries.<br/><br>
Results: This SLR identified 61 primary studies that either delivered discussions or conducted experiments to perform comparison between spot pricing and fixed pricing in the Cloud domain. The reported benefits and limitations were summarized to facilitate cost-benefit analysis of being a Cloud spot pricing player, while four types of theories were distinguished to help both researchers and practitioners better understand the Cloud spot market.<br/><br>
Conclusions: This SLR shows that the academic community strongly advocates the emerging Cloud spot market. Although there is still a lack of practical and easily deployable market-driven mechanisms, the overall findings of our work indicate that spot pricing plays a promising role in the sustainability of Cloud resource exploitation.},
  author       = {Li, Zheng and Zhang, He and O'Brien, Liam and Jiang, Shu and Zhou, You and Kihl, Maria and Ranjan, Rajiv},
  issn         = {0164-1212},
  language     = {eng},
  number       = {1},
  pages        = {1--19},
  publisher    = {Elsevier},
  series       = {Journal of Systems and Software},
  title        = {Spot Pricing in the Cloud Ecosystem: A Comparative Investigation},
  url          = {http://dx.doi.org/10.1016/j.jss.2015.10.042},
  volume       = {114},
  year         = {2016},
}